International Trade Administration of North America Term Paper

International Trade Administration of North America - Term Paper Example When we look at the old pattern where how the US economy works, that is, the population also grows along with US economy, the job fulfilment is reached. When we check the business-peak cycle from January 1980 to July 1990 we can observe the total U.S employment grow by 151,000 net new payroll jobs in a month. And it increased at a rate of 178,000 at the business- peak cycle from July 1991 to March 2001, but around the turn of millennium the situation began to change in U.S. than before (Lenain, et al., 2012). Due to the weak employment growth in the beginning of the millennium the economy fell into recession and began to shed jobs at the end of 2008 and this lasted till the president signed the American recovery and reinvestment act. The recession made a large and continuing negative impact on the state and local governments, however with the help of recovery act and by the payroll tax cut and unemployment insurance extensions contained in the tax relief, unemployment insurance reaut horisation and job creation act of 2010, the U.S. economy had added jobs in every month from February 2010 (Lenain, et al., 2012). The economy of whole North America includes 528 million people in its 23 sovereign states and 15 dependent territories. It is marked by a sharp division between predominantly English speaking countries of Canada and united states , which are among the wealthiest and most developed nations in the world, and the countries in central America and Caribbean the less developed.